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president obama back in washington d.c. spoke to all the congressional leaders, top democrats and republicans in the house and senate, no update, or signs of real progress, senior administration official says this one is up to congress to figure out. house republicans say we need the senate to act, senators say we need republicans to act. terry reed hit the floor a short while ago and said it looks like we are headed over the fiscal plan and called on the house to set -- pass the senate plan. >> i see the speaker painting the escape hatch, put the economic base in your own state as speaker of the house. million of middle-class families are nervously watching, waiting and counting down the moment until our taxes go up. >> that escape hatch would keep taxes where they are for families earning less than $250,000 a year and increase for those earning more. a response from house speaker john boehner's office, spokesperson saying harry reid should talk less and legislate more. the house has passed legislation to avoid the entire
president obama back in washington d.c. spoke to all the congressional leaders, top democrats and republicans in the house and senate, no update, or signs of real progress, senior administration official says this one is up to congress to figure out. house republicans say we need the senate to act, senators say we need republicans to act. terry reed hit the floor a short while ago and said it looks like we are headed over the fiscal plan and called on the house to set -- pass the senate plan....
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Dec 27, 2012
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what it is doing in washington dc tomorrow. gerri: what you think will be accomplished in a conference call tomorrow? >> honestly, i do not know. this was a surprise that we got. but we knew we were going to be given 48 hours notice to come back to the capital. so i suspect that's a conference call is. gerri: you guys should stay until the problem is solved. there's nothing wrong with working weekends, my friend. it's always great to have you on the show. you are always so patient with my questions. thank you so much, congressman. it's great to have you on. >> thank you, gerri. gerri: president obama is in washington negotiating a deal to revert the fiscal cliff. the first time and there are 500 billion in tax hikes coming your way. december 31. grover norquist from the president of americans for tax reform are warning that that is only the start of our problem. >> in addition to the bush tax cuts, 500 billion-dollar tax increases, a trillion dollars in obamacare taxes, all the taxes to pay for that free health care we are supp
what it is doing in washington dc tomorrow. gerri: what you think will be accomplished in a conference call tomorrow? >> honestly, i do not know. this was a surprise that we got. but we knew we were going to be given 48 hours notice to come back to the capital. so i suspect that's a conference call is. gerri: you guys should stay until the problem is solved. there's nothing wrong with working weekends, my friend. it's always great to have you on the show. you are always so patient with my...
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. >>> president obama has cut short his vacation to return to washington where he is going to try to hammer out a deal with republicans to avoid sending the economy over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position
. >>> president obama has cut short his vacation to return to washington where he is going to try to hammer out a deal with republicans to avoid sending the economy over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with...
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what will you miss about washington? and what will you not miss? >> i will miss the chance to affect public policy. and i'll miss the friends there. other members of congress, and, by the way, one of the great bargains the american people get are the people who work for members of congress. we have a wonderful, intelligent, thoughtful, dedicated group of people. it's great to be able to come to worker day and interact with bright people. what i won't miss is one, the travel. and two, to be honest at this point, the sense of responsibility. for 45 years, i've been working in government, first in the city hall of boston and then the last 32 years in congress. i'm sorry people will still be doing those things, but i need a little rest. >> your proudest moment. what are you feeling is your proudest achievement? is it dodd-frank? >> well, that's one of them. one of them, frankly, has been the successes we've got on getting legal equality for lgbt people. and i've had a major repeal of don't ask, don't tell. and i was proud of my role in defeating the ef
what will you miss about washington? and what will you not miss? >> i will miss the chance to affect public policy. and i'll miss the friends there. other members of congress, and, by the way, one of the great bargains the american people get are the people who work for members of congress. we have a wonderful, intelligent, thoughtful, dedicated group of people. it's great to be able to come to worker day and interact with bright people. what i won't miss is one, the travel. and two, to...
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>> it's typical washington pea and walnut kind of separation. people resign from their positions, but they don't necessarily resign their employment in the government. for the head of diplomatic security, although he's a presidential appoint tee, my understanding is he's also part of the foreign service. so he has left that particular job, but he's still a member of the foreign service. and i think a similar situation applies to the other three people. that's something that, you know, if it were a political appoint tee as the assistant secretary, once you resign, you are gone, that's it. and that was the impression that they left when these announcements were made last week but that's obviously not what has happened. >> that's what people want to know. so they have accepted eric's decision to resign but nevertheless people are still on the payroll. there's the accountability? and it's a coverup of resignations. they don't seem to have any import behind them. the fact of the matter is it's just for show. more political coverup to say we are doing
>> it's typical washington pea and walnut kind of separation. people resign from their positions, but they don't necessarily resign their employment in the government. for the head of diplomatic security, although he's a presidential appoint tee, my understanding is he's also part of the foreign service. so he has left that particular job, but he's still a member of the foreign service. and i think a similar situation applies to the other three people. that's something that, you know, if...
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"special report" from washington starts at 6:00 p.m. eastern. now back to new york and "the five." ♪ ♪ >> welcome back to "the five." shop in saint paul has been warned to stop selling candy smokes with bubble gum cigars after they are trying to prevent kids from trying the real stuff one day. does anyone want to tie it throt is a nexus between candy cigarettes and bubble gum cigars and taking up smoking? any takers? smokers amongst us? >> greg: this research is created to prove the point researchers want that candy cigarettes lead to real smoking. all kids had candy cigarettes. ban hot wheels because kids fast on them. cap gun leads to real guns. making a finger like this should be banned. no more using -- >> bob: making a finger lik like -- never mind. >> andrea: that is banned. >> bob: of course it should be banned. >> eric: they're fun. >> bob: it's a law. it's a law. >> andrea: i had those. look at me. >> eric: they have too much time on their hands to worry about whether a candy cigarette wants to smoke real cigarette. >> kimberly: i h
"special report" from washington starts at 6:00 p.m. eastern. now back to new york and "the five." ♪ ♪ >> welcome back to "the five." shop in saint paul has been warned to stop selling candy smokes with bubble gum cigars after they are trying to prevent kids from trying the real stuff one day. does anyone want to tie it throt is a nexus between candy cigarettes and bubble gum cigars and taking up smoking? any takers? smokers amongst us? >> greg:...
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washington, d.c. doesn't have dots. but finally crime, crime with guns are exploding. >> juan: that is what i said earlier. i wish they had a map with bad guys with the guns. where do the bad guys get guns? states with less gun control laws. >> kimberly: put illegally on the street because they don't want to commit a crime with a weapon registered to them. the one guy registering the gun and committing a crime with your name. we can find out. >> kimberly: you have to do ballistic. >> juan: they can close the gun show loophole. >> greg: is there really one? i tried to find it. just if you don't have a license to sell gun but you are a collector of gun you can sell a gun to eric bolling, antigun control and he doesn't have to go through a background check. that is legal. >> greg: has there been major crimes committed by people who got guns that way? >> juan: i don't know. >> greg: me neither. i want to read this. a lot of celebrities have come out for gun control. jesse james hasn't, motorcycle moge with infamous love lif
washington, d.c. doesn't have dots. but finally crime, crime with guns are exploding. >> juan: that is what i said earlier. i wish they had a map with bad guys with the guns. where do the bad guys get guns? states with less gun control laws. >> kimberly: put illegally on the street because they don't want to commit a crime with a weapon registered to them. the one guy registering the gun and committing a crime with your name. we can find out. >> kimberly: you have to do...
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he is leading a group that would buy the chain that has 47 stores in california and washington state. "nightline" is next. for rick quan and sandhya patel and carolyn johnson, thank you for watching. we appreciate your time as always. check out abc7 morning news at 4:30 a.m. have a good night. [captioning made possible by disney-abc domestic television] [cheers and applause] meredith: thank you! hello, and welcome to "millionaire." "double your money" week continues. just yesterday, someone banked $50,000 just 4 questions into the game, and hoping to have this same good fortune is today's first contestant, from arlington, virginia, jangela shumskas. >> i'm so excited to be here. meredith: nice to meet you, too. first of all, i love that name-- jangela. where'd you get that from? >> my mom says it's thai, but
he is leading a group that would buy the chain that has 47 stores in california and washington state. "nightline" is next. for rick quan and sandhya patel and carolyn johnson, thank you for watching. we appreciate your time as always. check out abc7 morning news at 4:30 a.m. have a good night. [captioning made possible by disney-abc domestic television] [cheers and applause] meredith: thank you! hello, and welcome to "millionaire." "double your money" week...
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he is going to come back from washington where not much has changed. as far as congress is concerned the senate will be meeting today. interesting little tidbit this is the first time since 19170 there have been legislative business conducted in the weeks of between christmas and new years. we will see some activity on hap t capitol hill. there may be a stopgap measure to try to prevent the calamity that happens at the end of the year if we reach the fiscal cliff. if we do not have some kind of a compromise. here's what's going to happen. just about everybody is going to have a tax increase. the number goes up significantly with incomes. if you are talking 200 to 500,000 in income almost 14,000 dollars in tax hikes. the wealthiest americans people that make a million dollars or more will pay an average of 216,000 dollars in additional tax that is money that would otherwise be spent to help boost the economy or invest it. this is a real concern for economists. the other wrench that was thrown in treasury secretary tim geithner says we are going to be up
he is going to come back from washington where not much has changed. as far as congress is concerned the senate will be meeting today. interesting little tidbit this is the first time since 19170 there have been legislative business conducted in the weeks of between christmas and new years. we will see some activity on hap t capitol hill. there may be a stopgap measure to try to prevent the calamity that happens at the end of the year if we reach the fiscal cliff. if we do not have some kind of...
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well, that news comes as president obama rushes home to washington, cutting short his hawaiian vacation in order to resume talks on the fiscal cliff. there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the country yesterday, dropping blizzard-like conditions and record snowfall in the midwest, and by late afternoon, euclid moved northeast, bringing traffic to a standstill, forcing the cancellation of more than 1,500 flights on one of the busiest travel days of the year. the weather channel's mike seidel has more on the massive christmas storm. >> reporter: a major snowstorm has dumped over a foot of snow across parts of the midwest. indiana got hit hard. high winds adding to the misery there. >> it's a lot better with the four-wheel-drive, but it, yeah, it's definitely a doozy out there. >> reporter:
well, that news comes as president obama rushes home to washington, cutting short his hawaiian vacation in order to resume talks on the fiscal cliff. there are just five days remaining to strike a deal. we'll get to all that in a moment, but first, we begin with a massive winter storm that made holiday travel miserable for millions of americans, including me! winter storm euclid -- what, are we naming snowstorms now? euclid. you can lid? well, euclid blanketed much of the eastern half of the...
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he is leading a group that would buy the chain that has 47 stores in california and washington state. "nightline" is next. for rick quan and sandhya patel and carolyn johnson, thank you for watching. we appreciate your time as always. check out abc7 morning news at 4:30 a.m. have a good night. >>> tonight on a special edition of "nightline" -- a white house christmas with the first family. president barack obama and first lady michelle obama sit down for an intimate and revealing first interview together since the election. only with barbara walters. >> how do you keep the fire going? >>> trimming the trees with the first dog bo. inside a special tradition. how they deck the halls at 1600 pennsylvania avenue. >>> and ask mrs. obama. first graders with a very special connection to the white house tree a
he is leading a group that would buy the chain that has 47 stores in california and washington state. "nightline" is next. for rick quan and sandhya patel and carolyn johnson, thank you for watching. we appreciate your time as always. check out abc7 morning news at 4:30 a.m. have a good night. >>> tonight on a special edition of "nightline" -- a white house christmas with the first family. president barack obama and first lady michelle obama sit down for an intimate...
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and we'll come back to washington, d.c. sunday evening, 6:30 p.m., no later than. >> let's talk about the senate minority leader, mcdonnell, saying hopefully there's time to get this fixed. is there time? >> i think there is. you know, we have done our business in the house of representatives. we have sent a bill to the senate which says we will keep all these tax rates where they are and the senate must act on that bill. that election. -- legislation. we don't need to talk about people getting together in a room to come up with a deal. we need to do that which is pragmatic and keep the money in the pockets of the american people. right now the spending problem we have in washington, d.c. is affecting this country. we have not had a budget passed by the senate in the last three or four yours. we're telling the american people they have to tighten their bootstraps but we do not want to do that in washington, d.c. we have a federal reserve printing more money to the tune of $45 billion a month to buy up treasury bonds, which
and we'll come back to washington, d.c. sunday evening, 6:30 p.m., no later than. >> let's talk about the senate minority leader, mcdonnell, saying hopefully there's time to get this fixed. is there time? >> i think there is. you know, we have done our business in the house of representatives. we have sent a bill to the senate which says we will keep all these tax rates where they are and the senate must act on that bill. that election. -- legislation. we don't need to talk about...
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a lot of people are watching, saying, stop messing around in washington. that's a lot of tax money at stake here. >> reporter: and this would be the first big tax hike we've seen in more than 20 years, david. there's a lot of talk about a potential meeting at the white house. the president came all the way back from hawaii, cut short the vacation, left the family back. no meeting scheduled yet but i would expect you will see congressional leaders sometime over the next 24, 36 hours, come to the white house one last ditch effort to at least stop these tax hikes from going into effect and extend the unemployment benefits. butguarantee. >> and some speculation that meeting could be tomorrow. >> reporter: yes. >> we'll see. jon, thank you. the clock is ticking. >>> two more important political notes we're following tonight. former president george bush remains in a hospital in house gone for what a spokesman describes as a series of setbacks. he is said to be in guarded condition in intensive care, nursing an elevated fever. he is currently on a liquids only d
a lot of people are watching, saying, stop messing around in washington. that's a lot of tax money at stake here. >> reporter: and this would be the first big tax hike we've seen in more than 20 years, david. there's a lot of talk about a potential meeting at the white house. the president came all the way back from hawaii, cut short the vacation, left the family back. no meeting scheduled yet but i would expect you will see congressional leaders sometime over the next 24, 36 hours, come...
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washington, d.c. doesn't have dots. but finally crime, crime with guns are exploding. >> juan: that is what i said earlier. i wish they had a map with bad guys with the guns. where do the bad guys get guns? states with less gun control laws. >> kimberly: put illegally on the street because they registered tocommit a crime them. the one guy registering the gun and committing a crime with your name. we can find out. >> kimberly: you have to do ballistic. >> juan: they can close the gun show loophole. >> greg: is there really one? i tried to find it. just if you don't have a license to sell gun but you are a collector of gun you can sell a gun to eric bolling, antigun control and he doesn't have to go through a background check. that is legal. >> greg: has there been major crimes committed by people who got guns that way? >> juan: i don't know. >> greg: me neither. i want to read this. a lot of celebrities have come out for gun control. jesse james hasn't, motorcycle moge with infamous love life. read a part from the faceb
washington, d.c. doesn't have dots. but finally crime, crime with guns are exploding. >> juan: that is what i said earlier. i wish they had a map with bad guys with the guns. where do the bad guys get guns? states with less gun control laws. >> kimberly: put illegally on the street because they registered tocommit a crime them. the one guy registering the gun and committing a crime with your name. we can find out. >> kimberly: you have to do ballistic. >> juan: they can...
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so we await the president to get back to washington. we know that the senate will be back in session today. we know there have been some conversations back and forth but at this point no indication that steps have moved forward closer to a deal, gregg. gregg: so, mike, if the senate comes back, what do we expect from them today? and then obviously the house? >> reporter: well, house speaker john boehner is in ohio. his aides told me a few moments ago ago if he has plans to travel. last night the speaker and the president of the united states met face to face to have any substantive discussions about the fiscal cliff was 10 days ago. republican leaders in the house are waiting for the senate democrats to act. they want to see what kind of bill harry reid brings forward on the floor. he is looking at republican leader mitch mcconnell to say what are you willing to accept? so here we are. there is blame game going on. there is lot of maneuvering still. bottom line we'll probably meet this weekend heading up to the fiscal cliff and we'll se
so we await the president to get back to washington. we know that the senate will be back in session today. we know there have been some conversations back and forth but at this point no indication that steps have moved forward closer to a deal, gregg. gregg: so, mike, if the senate comes back, what do we expect from them today? and then obviously the house? >> reporter: well, house speaker john boehner is in ohio. his aides told me a few moments ago ago if he has plans to travel. last...
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taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost too for you. like nasser he or she can offer up a reason when and why cabs becomes scarce of them you know. when you're driving cabs to the dad to this. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road to where they can pick up to what they can charge the mid think is fair. because the price is going to go out as if it is the same thing and making it difficult to rack up those fares and serve customers are the cabs city limits. so we just arrived at reagan airport which is just right outside of washington d.c. and not our cab driver was nice enough to drop us off here only he can't get a return fare back he has to leave and go all the way back to d.c. without anybody in his cab simply because of the regulations. tha
taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost too for you. like nasser he or she can offer up a reason when and why cabs becomes scarce of them you know. when you're driving cabs to the dad to this. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road...
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washington has not given us the ground rules. once that clarifies i know it will have negative impact short term. corporate america will say, you know what? we will go ahead and build the plant. we'll go ahead and hire. we'll put money into the economy. it is estimated between one and $3 trillion sitting on the sidelines. harris: tell me what the deal is so we can go forward, is that it? >> higher taxes and entitlement cuts. harris: before you go, i hear a huge however, in all of this and that's because the only thing you say would slow down a positive outlook is the federal government getting in the way. you know they're pretty good at that. >> look what happened, not only 12 months but really the last almost four years the economy should have been on a natural high. it has its own momentum, its own natural growth. unemployment has been historically terrible on these kind of recoveries. washington interfering with the natural growth of the economy. we do need to get them out of the way. we need them to make decisions give ground
washington has not given us the ground rules. once that clarifies i know it will have negative impact short term. corporate america will say, you know what? we will go ahead and build the plant. we'll go ahead and hire. we'll put money into the economy. it is estimated between one and $3 trillion sitting on the sidelines. harris: tell me what the deal is so we can go forward, is that it? >> higher taxes and entitlement cuts. harris: before you go, i hear a huge however, in all of this and...
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good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for thursday december twentieth two thousand and twelve in the u.s. as the fiscal cliff approaches reuters reports republicans are aiming to vote today in the house on a plan which obama promptly says he would veto meanwhile fish has warned the u.s. could lose its aaa credit rating if washington doesn't get a deal to treat what we call economy riya no this may all feel like deja vu and maybe it will all turn out fine maybe it won't though where do you want to place your bets we'll talk to the daily reckonings eric brian and bill bowman about their choices was a german study finds paying taxes has a positive impact on a person's subjective well being no word on what the findings would bring in the west but if you are counting on taxation to make you feel like your quality of life is on the up and up state side we'll talk about some other economic options and the opec of maple syrup has been robbed millions of dollars worth of the hot commodity has been stolen f
good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for thursday december twentieth two thousand and twelve in the u.s. as the fiscal cliff approaches reuters reports republicans are aiming to vote today in the house on a plan which obama promptly says he would veto meanwhile fish has warned the u.s. could lose its aaa credit rating if washington doesn't get a deal to treat what we call economy riya no this may all feel like deja vu and...
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the president arrived back in washington in a little bit more than an hour. the senate comes back tonight and the house it could be a couple of days. there is not the sense of urgency you would think there would be with a critical deadline looming. some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early this morning and headed for washington to deal with unfinished fiscal cliff business. with just five days until the combination of automatic tax increases and spending cuts that could send the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include lett
the president arrived back in washington in a little bit more than an hour. the senate comes back tonight and the house it could be a couple of days. there is not the sense of urgency you would think there would be with a critical deadline looming. some members of congress admit they may well just go over the fiscal cliff and deal with it in january after the new congress is sworn in. leaving his family behind to continue their vacation without him, president obama boarded air force one early...
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taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. i was right you know it's almost for you. like nasser he or she can offer up a reason when and why cabs becomes scarce of them you notice when you're driving cabs to the dad that is. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road to where they can pick up to what they can charge the mid think is fair. because the prices benefit going up but if it is the same thing and making it difficult to rack up those fares and serve customers are the cabs and city limits. so we just arrived at reagan airport which is just right outside of washington d.c. and nasr our cab driver was nice enough to drop us off here only he can't get a return fare back he has to leave and go all the way back to d.c. without anybody in his cab simply because of the regulations. th
taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. i was right you know it's almost for you. like nasser he or she can offer up a reason when and why cabs becomes scarce of them you notice when you're driving cabs to the dad that is. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road to...
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taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost too for you. like nasser he or she can offer up a reason when and why cabs become scares them you notice when you're driving cabs go down to this. and say. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road to where they can pick up to what they can charge the fare. because the prices that are going up that's a fantasy and making it difficult to rack up those fares and serve customers are the cabs and city limits. so we just arrived at reagan airport which is just right outside of washington d.c. and nasr our cab driver was nice enough to drop us off here only he can't get a return fare back he has to leave and go all the way back to d.c. without anybody in his cab simply because of the regulations. that requires anot
taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost too for you. like nasser he or she can offer up a reason when and why cabs become scares them you notice when you're driving cabs go down to this. and say. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the...
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starting with the budget crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish the names and addresses of thousands of private citizens who have legal gun permits. can the mainstream media still claim not to hate all gun owners after a stunt like this? "the kudlow report" starts right now. let's get the latest on the snag on the fiscal cliff talks and surprise news we are going to reach the debt ceiling in days instead of just a few months. john harwood has the details. what's going on? >> not a whole lot of actions going on. although there have been some developments. let me bring our viewers up to date on those. fir
starting with the budget crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish...
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flying overnight back to washington. is he likely to bring together congressional leaders in the next couple days when he he gets back to washington. time is running out, harris. >> harris: no breaking news in any of that. but we did see some today. treasury secretary tim geithner saying we could hit the debt ceiling the day after we follow off the fiscal cliff if no deal is reached. >> that's right. december 31st. a lot going on there. a lot of these budget calamities coming together all at once. economists already warning the fiscal cliff situation could cause another recession. now we're about to hit the nation's debt ceiling. secretary geithner in a letter to congress did go ton say, quote, he would take extraordinary measures and say these extraordinary measures can create approximately $200 billion in head room under the debt limit. under normal circumstances the amount of head room would last approximately two months. however, given the significant uncertainty that now exists with regard to unresolved tax and spen
flying overnight back to washington. is he likely to bring together congressional leaders in the next couple days when he he gets back to washington. time is running out, harris. >> harris: no breaking news in any of that. but we did see some today. treasury secretary tim geithner saying we could hit the debt ceiling the day after we follow off the fiscal cliff if no deal is reached. >> that's right. december 31st. a lot going on there. a lot of these budget calamities coming...
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check out my work at "washington post" at wonkblog.com. "first look" is up next. >>> right now on "first look," heavy snow, thunderstorms, freezing rain and high winds serving up a nightmare for stranded holiday travelers. >>> president obama aboard air force one right now racing back to washington to try to lead us away from the fiscal cliff. >>> former president george h.w. bush in intentive care. we'll have the latest on that. >>> a vigil for firefighters, a tornado in action and december surfing in the great lakes. good morning. i'm mara schiavocampo. a powerful winter storm that brought an odd mix of tornadoes, heavy winds and snow to the nation's midsection is now wreaking havoc on the northeast. snow and sleet have produced treacherous road conditions from pennsylvania and western new york to maine with more than a foot of snow expected in some areas. this storm so far being blamed for at least six deaths. and as nbc's kurt gregory reports, the storm is creating a post holiday travel nightmare. >> reporter: cleanup on the day after
check out my work at "washington post" at wonkblog.com. "first look" is up next. >>> right now on "first look," heavy snow, thunderstorms, freezing rain and high winds serving up a nightmare for stranded holiday travelers. >>> president obama aboard air force one right now racing back to washington to try to lead us away from the fiscal cliff. >>> former president george h.w. bush in intentive care. we'll have the latest on that....
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this is classic gridlocked washington. why america is fed up with the lawmakers and all about pointing fingers, gaining the upper hand here. and also, gaming this out because if we do dive off the cliff an we don't get a deal in the next couple of days, which looks increasingly like where we're headed then we come back in january and have to negotiate again and a political advantage for both sides if that's the case. >> her's the thing. even if a deal does get done at this point, it's a small deal. much smaller deal than both sides said they wanted several months ago. the debt ceiling, will be back in two months. there's a good chance we are going to be revisiting a budget issue in march, as well. is this the new d.c. zachary? >> well, it's kind of an old d.c. and the current version, you know, 4.0. and you're absolutely right. it's convenient because there's a news hook for the fiscal cliff for january 1st and calling this now b.c. before cliff, and coming back after january 1st and a.c. and talking about the same level o
this is classic gridlocked washington. why america is fed up with the lawmakers and all about pointing fingers, gaining the upper hand here. and also, gaming this out because if we do dive off the cliff an we don't get a deal in the next couple of days, which looks increasingly like where we're headed then we come back in january and have to negotiate again and a political advantage for both sides if that's the case. >> her's the thing. even if a deal does get done at this point, it's a...
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taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost for you. like nasser he or she can offer up a reason when and why cabs become scares them you know. when you're driving cabs to the dad to this. i'd say. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road to where they can pick up to what they can charge the mid think fair. because the prices benefit going up that's a fairly listen to him and making it difficult to rack up those fares and serve customers are the cabs and city limits. so we just arrived at reagan airport which is just right outside of washington d.c. and nasr our cab driver was nice enough to drop us off here only he can't get a return fare back now to leave and go all the way back to d.c. without anybody in his cab simply because of the regulations. t
taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost for you. like nasser he or she can offer up a reason when and why cabs become scares them you know. when you're driving cabs to the dad to this. i'd say. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the...
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good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for once december nineteenth two thousand and twelve u.b.s. has settled over accusations of libel rigging as expected from reports we received earlier this week but we now know colorful details about the traders call each other nicknames like superman and captain chaos which was spelled wrong by the way that's according to the wall street journal now we got no such color from the federal reserve and its manipulation of rates but that is no points against we'll talk to a former v.p. of public affairs at the federal reserve bank of cleveland about what is lost in fed speak plus the treasury department announced it plans to sell its entire stake in g.m. within fifteen months according to the new york times a reminder of the bailouts in two thousand and eight of course but instead of government bailouts how about innovating out of a slowdown or changing your business model we'll talk to the c.e.o. of car to go north america about diana.
good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for once december nineteenth two thousand and twelve u.b.s. has settled over accusations of libel rigging as expected from reports we received earlier this week but we now know colorful details about the traders call each other nicknames like superman and captain chaos which was spelled wrong by the way that's according to the wall street journal now we got no such color from the federal...
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welcome to washington. fiscal cliff negotiations as if to signify how america wants the parties to come together. starbucks barristas today are hand signing each of the coffee cup with the words "come together." anything will do at this point. bring in the panel. steve hayes for "weekly standard." a.b. stoddard, associate editor of the hill. sindcated columnist charles krauthammer. a.b., the res tent numbers-cruncher. what do you make of the back and forth today? >> today was about the drama on both sides and blame game and showing they were going to come and call e want to get down to business before december 31, which is monday. we're not, there are no plans. no paperwork. there are conflicting reports about the meeting. it's all kind of depressing. when you poke arp you find out that the house is returning on sunday. but beyond that, nobody knows anything. >> doug: steve? >> yeah. today, nothing happened other than people using warn-out talking points and a lot of misinformation. harry reid is still blam
welcome to washington. fiscal cliff negotiations as if to signify how america wants the parties to come together. starbucks barristas today are hand signing each of the coffee cup with the words "come together." anything will do at this point. bring in the panel. steve hayes for "weekly standard." a.b. stoddard, associate editor of the hill. sindcated columnist charles krauthammer. a.b., the res tent numbers-cruncher. what do you make of the back and forth today? >>...
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we know the president is coming back to washington but will lawmakers meet him there? are lawmakers even talking at this point? >> reporter: it's unbelievable. it's been ten days since there has been a meaningful conversation between the president and any republican, in that case, speaker boehner. ten day, any exchange of proposals, any back and forth trying to come up with something. since then, total political paralysis and doesn't look like anything more is going to happen. harry reid saying i won't bring anything to the senate floor or call a vote until i know for sure the republicans in the senate and republicans in the house will actually take whatever bill they come up with an put it on the floor. it's looking more and more likely this is we will go over this proverbial cliff, won't be over it very long, you know the way washington works. two weeks in they can pass a law retroactively and roll back the tax things but doesn't appear someh somehow new year's eve and january 1st scares these guys into doing anything. >> the grand bargain of tax reform seems a dista
we know the president is coming back to washington but will lawmakers meet him there? are lawmakers even talking at this point? >> reporter: it's unbelievable. it's been ten days since there has been a meaningful conversation between the president and any republican, in that case, speaker boehner. ten day, any exchange of proposals, any back and forth trying to come up with something. since then, total political paralysis and doesn't look like anything more is going to happen. harry reid...
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especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back to a country that's given him so much. a sense that's infectious. his daughter is now collecting cabs at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff, but his priest says that's not the message garcia's sending to congress. >> in order to really solve the $16 trillion national debt, you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end, and it might as well be here. so if you want to be, like his granddaughter says, be like grandpa, you can google the office of public debt and they are willing to take contributions from american citizens. candy? >> i have to tell you, i think m
especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back to a country that's given him so much. a sense that's infectious. his daughter is now collecting cabs at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders...
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. >>> and back to work in washington with five days to go. president obama comes back to washington to try to hammer out a deal with the senate, and we're hearing it may come down to the final minute of the year. >>> sticky gas pedals costing toyota $1 billion. the company's plan to put sudden acceleration allegations in their past and how you may we able to cash in on it even if you already sold your car. >>> a packed show ahead. congressman steven latourette of ohio, senator richard blumenthal of connecticut, plus the grinch. it's thursday, december 27th. "starting point" begins right now. >>> well, our starting point, a brutal winter storm battering the northeast and torturing holiday travelers all over the country. here it is on the radar. the system is expected to dump up to two feet of snow on central maine today. six states are under winter storm warnings, pennsylvania, new york, massachusetts, new hampshire, vermont, and of course maine. everyone there could see at least a foot of snow. more than 200,000 customers spanning several sta
. >>> and back to work in washington with five days to go. president obama comes back to washington to try to hammer out a deal with the senate, and we're hearing it may come down to the final minute of the year. >>> sticky gas pedals costing toyota $1 billion. the company's plan to put sudden acceleration allegations in their past and how you may we able to cash in on it even if you already sold your car. >>> a packed show ahead. congressman steven latourette of...
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the president and the senators are in washington. that would appear to be a good sign, is that correct? reporter: yes and no. the tone publicly has not been very good so far. we know that the president obama, on the way back from hawaii, worked the phones a bit, talking to the top four congressional leaders. speaker boehner, nancy pelosi, mitch mcconnell, and harry reid. earlier today, the senate majority leader sounded frustrated with the republicans in congress. >> nothing can move forward unless speaker boehner and mitch mcconnell are willing to come up with a bipartisan plan to participate. speaker boehner is unwilling to negotiate. we have not heard a word since neither mcconnell. nothing has happened. >> i should note that senator reid was due for a news conference later this afternoon. that has since been canceled. perhaps the senate majority leader has decided to do his talking behind closed doors and hammer out a deal. greg: filled with metaphors, no doubt. what a republican saying about the status of the fiscal cliff negoti
the president and the senators are in washington. that would appear to be a good sign, is that correct? reporter: yes and no. the tone publicly has not been very good so far. we know that the president obama, on the way back from hawaii, worked the phones a bit, talking to the top four congressional leaders. speaker boehner, nancy pelosi, mitch mcconnell, and harry reid. earlier today, the senate majority leader sounded frustrated with the republicans in congress. >> nothing can move...
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does washington ever change its tone or their debate? let's ask the man who served in the white house of policy. good morning to you, peter, and welcome to the show. >> good morning. glad to be here. >> clayton: does this ever change? i moon, 1990, it sounds like we're going over the exact same things again here in 2012. >> what's most immediately relevant is what happened as a result of that package. the spending cuts were never really enacted. the tax increases pushed the economy into recession. and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come forward with entitlement cuts that were enough to actually
does washington ever change its tone or their debate? let's ask the man who served in the white house of policy. good morning to you, peter, and welcome to the show. >> good morning. glad to be here. >> clayton: does this ever change? i moon, 1990, it sounds like we're going over the exact same things again here in 2012. >> what's most immediately relevant is what happened as a result of that package. the spending cuts were never really enacted. the tax increases pushed the...
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he's yelling at washington. >> yeah. >> i like that. you see how it's done now. >> it's a beautiful thing. >> all right. rick, and jim iuorio, thank you. i like passion. >> joe, joe, do me a favor. make sure you watch the guest today at 11:20. we have bill prezza and this one's really going to be fascinating. >> i do watch at 11:20. i do, rick. excellent. thanks. who is this guy? >> bill prezza. great writer. he writes things that really get you thinking. >> awesome. all right. don't hold back, rick. >> i never do. >> okay, guys. >> coming up, the impact of the fiscal cliff on the big banks. financial analyst chris whalen. he's here. he's going to join guest host john kanas for a look at the financial sector in 2013. >> when you miss "squawk box" you fall behind on global business news. when you fall behind on global business news, you make bad investment decisions. when you make bad investment decisions, you lose all your money. when you lose all your money, you are tempted to hatch an illegal ponzi scheme. when you hatch an illegal po
he's yelling at washington. >> yeah. >> i like that. you see how it's done now. >> it's a beautiful thing. >> all right. rick, and jim iuorio, thank you. i like passion. >> joe, joe, do me a favor. make sure you watch the guest today at 11:20. we have bill prezza and this one's really going to be fascinating. >> i do watch at 11:20. i do, rick. excellent. thanks. who is this guy? >> bill prezza. great writer. he writes things that really get you...
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>> i think there's a lot of pessimism here in washington. you've got, as you pointed out, five days left. i think the real indicator here is that none of these parties are moving off their position. the senate democrats, the house republicans, the white house. there hasn't been any reason for folks to look at what's going on and say, oh, i see where a deal could be coming together. so what you've got is what's described in economic game theory is where everyone has decided on their strategy, looked at the strategies of the oar players and figuring that their optable strategy is to go over the cliff and pick up the pieces later. >> and basically fight for which party is going to get the most blame in the meantime, right? >> that's right. this is a finger-pointing exercise. everyone is sort of putting together their best case for why the other guy is at fault. you know, the possible exception here, drew, is if the senate can pass something, a scaled-back version of the obama plan, perhaps if the senate passes something, i think that will remov
>> i think there's a lot of pessimism here in washington. you've got, as you pointed out, five days left. i think the real indicator here is that none of these parties are moving off their position. the senate democrats, the house republicans, the white house. there hasn't been any reason for folks to look at what's going on and say, oh, i see where a deal could be coming together. so what you've got is what's described in economic game theory is where everyone has decided on their...
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they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i served in the house of representatives. there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. everyone knows, including the speaker of the house house of representatives today, that if they had brought the house -- i'm sorry, the senate-passed bill that would give relief to everyone making less than $250,000 a year, it would pass overwhelmingly. every democratic would vote for it and republicans would vote for it. but the speaker, he says no, we can't do that t ha
they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i...
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he is old-school washington. i wouldn't say in the best way but in the -- in a certain hapless sad way. it's the way it works. and he's got these, as he and his, you know, the members -- the same members of his caucus, the 40 or 50 people to his right who just can't cut him a break and won't let him lead even if he wants to lead. >> you know, kurt just used the word that has disappeared more or less, i think, from day-to-day language, the word is "pension." i can remember tip o'neill telling me that the second night that gerald ford assumed the presidency, that gerald and betty ford invited tip and millie o'neill down to the white house for dinner. they were the best of friends in the house, and they remained friendly for years. so the o'neills and the fords, president ford, were having dinner. and at one point during the dinner, president ford says to tip o'neill, "tip, do you have any idea of what the bump in pay for this job is going to mean for my pension?" you know, which is sort of a cute story. it sort of
he is old-school washington. i wouldn't say in the best way but in the -- in a certain hapless sad way. it's the way it works. and he's got these, as he and his, you know, the members -- the same members of his caucus, the 40 or 50 people to his right who just can't cut him a break and won't let him lead even if he wants to lead. >> you know, kurt just used the word that has disappeared more or less, i think, from day-to-day language, the word is "pension." i can remember tip...
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. >>> we saw the snow in washington, d.c. yesterday. that's what president obama will be returning to this morning, cutting his hawaii vacation short because of the looming fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many more times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's coming back to washington. the senate's coming back. they're ready to strike a deal. the bad news, josh, no progress whatsoever. and, in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us going until february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on
. >>> we saw the snow in washington, d.c. yesterday. that's what president obama will be returning to this morning, cutting his hawaii vacation short because of the looming fiscal cliff deadline. it is now just five days away. is there any movement on either side? how many more times can we ask this question of abc chief white house correspondent, jonathan karl, joining us this morning. dare i ask, where we stand this morning? >> reporter: good news and bad news. the president's...
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the military goal is in washington d.c. a kickoff set noon. >> public safety officials in east palo alto say that emerges repairs to a levee that separated dozens of homes from the san francisco-quito creek are holding up. the creek or float on sunday night causing mandatory evacuations for seven homes. at least one home was damaged to the point of being uninhabitable. no further work has been scheduled. but the city continues to keep a close eye on the levee. >> all the rain over christmas-a down the southbound side of the upper great highway from lincoln avenue to slow boulevard. a spokesperson at the centers is the department of public works say that the rose flood because the drains cannot handle all the water, especially during a powerful storm. drivers are being forced to take the lower great highway route. the northbound side is still open. officials say that highway close about 60 times a year. it is not known when the southbound side will reopen. >> the storm also brought down a massive tree in the east bay. the on
the military goal is in washington d.c. a kickoff set noon. >> public safety officials in east palo alto say that emerges repairs to a levee that separated dozens of homes from the san francisco-quito creek are holding up. the creek or float on sunday night causing mandatory evacuations for seven homes. at least one home was damaged to the point of being uninhabitable. no further work has been scheduled. but the city continues to keep a close eye on the levee. >> all the rain over...